Signature Bank (SBNY) Holdings Raised by CI Global Investments Inc.
CI Global Investments Inc. boosted its position in Signature Bank (NASDAQ:SBNY) by 3.9% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 332,500 shares of the bank’s stock after purchasing an additional 12,500 shares during the period. Signature Bank comprises 0.9% of CI Global Investments Inc.’s investment portfolio, making the stock its 27th biggest position. CI Global Investments Inc. owned approximately 0.62% of Signature Bank worth $42,573,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the business. Tudor Investment Corp ET AL grew its position in Signature Bank by 0.6% in the 1st quarter. Tudor Investment Corp ET AL now owns 2,418 shares of the bank’s stock worth $359,000 after purchasing an additional 14 shares in the last quarter. Bronfman E.L. Rothschild L.P. grew its position in Signature Bank by 1.5% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,406 shares of the bank’s stock worth $202,000 after purchasing an additional 21 shares in the last quarter. Cadence Capital Management LLC grew its position in Signature Bank by 1.1% in the 2nd quarter. Cadence Capital Management LLC now owns 2,118 shares of the bank’s stock worth $304,000 after purchasing an additional 23 shares in the last quarter. Boston Private Wealth LLC grew its position in Signature Bank by 0.3% in the 2nd quarter. Boston Private Wealth LLC now owns 7,568 shares of the bank’s stock worth $1,086,000 after purchasing an additional 25 shares in the last quarter. Finally, YorkBridge Wealth Partners LLC grew its position in Signature Bank by 6.3% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 688 shares of the bank’s stock worth $100,000 after purchasing an additional 41 shares in the last quarter. 97.93% of the stock is owned by institutional investors and hedge funds.
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Shares of Signature Bank (SBNY) traded up $2.26 during mid-day trading on Tuesday, hitting $127.19. 571,800 shares of the company were exchanged, compared to its average volume of 487,949. The stock has a market cap of $7,050.00, a PE ratio of 14.26, a P/E/G ratio of 1.60 and a beta of 1.01. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.71. Signature Bank has a 12 month low of $116.68 and a 12 month high of $164.23.
Signature Bank (NASDAQ:SBNY) last announced its quarterly earnings results on Thursday, October 19th. The bank reported $2.29 EPS for the quarter, beating the Zacks’ consensus estimate of $2.19 by $0.10. The company had revenue of $316.94 million for the quarter, compared to analysts’ expectations of $322.22 million. Signature Bank had a net margin of 26.40% and a return on equity of 12.58%. During the same period in the prior year, the company posted $2.11 EPS. sell-side analysts anticipate that Signature Bank will post 7.25 EPS for the current fiscal year.
SBNY has been the subject of a number of recent analyst reports. Deutsche Bank AG reduced their price objective on shares of Signature Bank from $178.00 to $162.00 and set a “buy” rating for the company in a research report on Thursday, July 20th. Morgan Stanley reduced their price objective on shares of Signature Bank from $164.00 to $150.00 and set an “overweight” rating for the company in a research report on Friday, September 15th. Hovde Group raised shares of Signature Bank from an “underperform” rating to a “market perform” rating and set a $132.00 price objective for the company in a research report on Monday, September 11th. BidaskClub downgraded shares of Signature Bank from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $142.00 price objective on shares of Signature Bank in a research report on Tuesday, October 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $154.80.
Signature Bank Profile
Signature Bank is a full-service commercial bank. The Bank operates over 30 private client offices throughout the New York metropolitan area. Its segments include Commercial Banking and Specialty Finance. It offers a range of business and personal banking products and services. Its specialty finance subsidiary, Signature Financial LLC (Signature Financial), provides equipment finance and leasing services.
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